Form 4: Gogo Inc. CEO Oakleigh Thorne Reports Stock Unit Conversion
SEC Form 4
Oakleigh Thorne, CEO and Chairman of Gogo Inc., reports the conversion of restricted stock units into common stock.
Summary
- On March 29, 2024, Oakleigh Thorne, CEO and Chairman of Gogo Inc., converted 43,017 restricted stock units into common stock.
- Following the transaction, Thorne directly owns 657,267 shares of common stock.
- Thorne also indirectly owns 100 shares through his spouse.
- Additionally, Thorne indirectly owns 27,258,136 shares through Thorndale Farm Gogo, LLC and OAP, LLC, but disclaims beneficial ownership except to the extent of any pecuniary interest.
- The restricted stock units converted were part of a grant from March 29, 2021, which vested in four equal annual installments.
Sentiment
Score: 5
Explanation: This is a neutral event, simply reporting a routine conversion of stock units. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives and their holdings in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
- The level of detail provided in this Form 4 is consistent with SEC requirements and industry norms.
- Comparable companies such as ViaSat and Intelsat also have similar insider transaction reporting requirements.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it is a routine conversion of stock units.
- It provides transparency to shareholders regarding insider ownership.
Key Dates
| Date | Description |
|---|---|
| 03/29/2021 | Reporting person was granted 172,069 restricted stock units, vesting in four equal annual installments on the first four anniversaries of this date. |
| 03/29/2024 | Date of transaction: Conversion of 43,017 restricted stock units into common stock. |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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